FSCA COMMUNICATION 4 OF 2024 (RF)

Submission to Parliament of draft Prudential Standard – Regulation 28 Quarterly Reporting Requirements for Pension Funds

1. The purpose of this Communication is to inform stakeholders that on 20 February 2024, the following draft Prudential Standard and supporting documents were submitted to Parliament in terms of section 103(2) of the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017) (FSR Act):

1.1 Prudential Standard – Regulation 28 Quarterly Reporting Requirements for Pension Funds;

1.2 Statement supporting the Prudential Standard;

1.3 Consultation Report on the Prudential Standard; and

1.4 Determination of Format and Manner of Regulation 28 Quarterly Reports.

2. The Prudential Standard prescribes quarterly reports for pension funds relating to assets held in terms of Regulation 28 (which was revised and amended in July 2022). The purpose of the Prudential Standard is to align the current non-compliance reporting with the amended Regulation 28.

3. The documents referred to in paragraph 1 are available on the FSCA’s website at www.fsca.co.za.

4. For more information regarding the draft Prudential Standard and/or this Communication, please contact the Regulatory Frameworks Department of the Authority by emailing marianne.vanrooyen@fsca.co.za.

KATHERINE GIBSON
DEPUTY COMMISSIONER
FINANCIAL SECTOR CONDUCT AUTHORITY

Date of publication: 22 February 2024